Equities

ON JAPAN

Newly-formed group Alquity Investment Management has launched an Africa fund for UK retail investors that sees 25% of management fees donated to support humanitarian projects in the region.

Renowned fund manager Bill Miller of Legg Mason says after years of underperformance, the current market represents a "once-in-a- lifetime opportunity" to buy US large caps at a significant discount.

Sarasin's Mark Whitehead has increased his fund's long equity exposure from 40% to 60% since July, attracted by low valuations and a strong Q2 reporting season.

More than a tenth of the 7,380 banks in the US remain at risk of failure despite the sector posting strong profit growth during the second quarter.

Royce & Associates co-CIO Whitney George believes markets are entering a ‘supercycle' in M&A activity, as the subdued economic environment forces companies to attempt to acquire growth.

Whitney George, who oversees $30bn at US small-cap specialist Royce, has taken a position in Jupiter on the view asset managers will thrive as the developed world looks to increase savings.

LV= Asset Management is launching a hedged share class for its European ex-UK Growth fund, to minimise currency risk for investors.

Bob Doll, chief equity strategist at BlackRock, says stocks are being pulled in two directions and are likely to keep to a narrow trading range until economic data improves.

The FTSE 100 moved slightly lower in afternoon trading as double-dip fears persisted on the back of negative housing market data.